Tear

Since its blockbuster acquisitions of Kerr-McGee Corp. and Western Gas Resources Inc. (see Daily GPI, June 26, 2006), Anadarko Petroleum Corp. has been on a divestiture tear, cutting down acquisition debt through multiple asset sales. So far, the company’s plan to end 2007 with $12 billion of debt is on track, according to analysts.

The defense team grabbed the spotlight last week in the trial of Enron Corp. founder Kenneth Lay and former CEO Jeffrey Skilling by attempting to tear down former CFO Andrew Fastow’s credibility. Lawyers for Skilling and Lay went right to the heart of their defensive strategy, telling the jury that Fastow was a devious accountant and skilled liar who duped his bosses, stole millions and pushed the company toward financial ruin.

Continuing on its property tear in the region, XTO Energy Inc. announced that it has entered into a definitive agreement with Denver-based Markwest Hydrocarbon Inc. to acquire coal bed methane and natural gas producing properties located in the San Juan Basin of New Mexico and Colorado for $60.5 million.

Continuing on its property tear in the region, XTO Energy Inc. announced that it has entered into a definitive agreement with Denver-based Markwest Hydrocarbon Inc. to acquire coal bed methane and natural gas producing properties located in the San Juan Basin of New Mexico and Colorado for $60.5 million.

Producers, pipelines and other industry companies with facilities in Lili’s path grew increasingly alarmed on Tuesday as the hurricane continued to grow in strength and appeared poised to wreak havoc on infrastructure in Louisiana. By the end of the day Tuesday, it was clear Lili would pack far more punch than the much weaker Isidore did only a few days earlier.

Aquila Energy and AMDAX — American Direct Access Exchange —plan to tear down the geographic barriers of their two companiesand form an alliance to expand the reach for commercial andindustrial customers using their Web-based auction sites.